(CNN) — New York Attorney General Letitia James filed a sweeping lawsuit Wednesday against former President Donald Trump, three of his adult children and the Trump Organization, accusing them of being involved in a sprawling fraud that lasted more than a decade. and that the former president would have used to enrich himself.
The case file indicates that the defendants are Donald J. Trump, Donald Trump Jr., Eric Trump, Ivanka Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc. and other companies associated with the Ex leader.
In the more than 200-page lawsuit, James, a Democrat, contends that the fraud extended to every aspect of Trump’s business dealings. Among them, his properties and his golf courses. According to the document, the Trump Organization misled lenders, insurers and tax authorities by inflating the value of his properties using misleading appraisals.
“These acts of fraud and misrepresentation were similar in nature, committed by senior management of the Trump Organization as part of a common effort for each annual statement, and approved at the highest levels of the Trump Organization, including Mr. Trump. He himself,” the lawsuit states.
In addition to Trump, his children, Donald Trump Jr., Eric Trump and Ivanka Trump are among those charged in the lawsuit. Allen Weisselberg, a former chief financial officer of the Trump Organization, and Jeff McConney, another longtime company executive, were also included.
James said he believes state and criminal laws may have been violated and referred the matter to the US Attorney’s Office for the Southern District of New York and the Internal Revenue Service (IRS).
James is seeking compensation of $250 million in allegedly ill-gotten funds, as well as permanently banning Trump and his sons named in the lawsuit from serving as directors of a New York state-registered company. He is also requesting to cancel the Trump Organization’s corporate certificate which, if granted by a judge, could effectively force the company to cease operations in that state.
Trump has described James as a “rogue prosecutor” who he says is running a “vindictive and self-serving” investigation. The Trump Organization called her previous accusations “baseless” and denied any wrongdoing.
In response to Wednesday’s announcement, Alina Habba, Trump’s attorney, said in a statement to CNN: “Today’s court document focuses neither on the facts nor on the law, but rather focuses solely on furthering the political agenda of the Attorney General. It is abundantly clear that the Office of the Attorney General has exceeded its statutory authority by meddling in transactions in which there has been absolutely no wrongdoing.”
Weisselberg’s attorney, Nicholas Gravante, declined to comment.
The civil lawsuit comes as Trump finds himself under mounting legal pressure, as prosecutors push forward with investigations that draw ever closer to his inner circle.
Trump is facing numerous criminal investigations from federal and state prosecutors, involving the accuracy of his company’s financial statements, interference in the 2020 presidential election and his handling of classified documents after leaving office. Trump has denied all allegations.
Prosecutor accused Trump of lying more than 200 times about the value of his assets
James alleged that the former president and his company made “scores of fraudulent, false and misleading representations” over a 10-year period, according to the lawsuit. The document also specifically highlighted what it called “200 false and misleading valuations” of Trump’s assets.
“The financial statements in question were issued annually; each contained a significant number of fraudulent, false, and misleading representations about many of the Trump Organization’s assets. And most played a role in particular transactions with financial institutions,” the lawsuit added. .
three years of research
James’s announcement is the latest development in what has been a three-year investigation she has led into the finances of the Trump Organization.
In January, James’ office said it had found “significant” evidence indicating the Trump Organization used false or misleading asset valuations in its financial statements to obtain loans, insurance and tax benefits. The company that had kept Trump’s accounts all his life resigned the following month.
James began his investigation in 2019 after Trump’s former personal attorney Michael Cohen testified before Congress that Trump inflated the value of certain assets to obtain loans and insurance and undervalued others to obtain tax benefits.